I was also on this ride and would like to add a few comments.
I've never been on anything like this before and was surprised that the initial gathering place was a bar. We arrived about an hour before the departure and I didn't notice anyone overindulging as you did, but we could just have been in different places - there were a lot of people there.
Like you, we were on a sport bike and chose to ride near the end and I'm glad for that deliberate decision in light of the accident.
As the passenger, one thing I noticed was that the speed wasn't consistent. Every driver needed to be totally vigilant and there were times when there was a sudden slowing (likely related to the accident) and the reflexes needed to be good.
There are comments about a lack of police presence. The ride was led by Alberta sheriffs on bikes, tailed by RCMP and traffic was stopped on the TransCanada and all through Medicine Hat. The RCMP were very visible at the event.
You mention that the deceased biker was sited at the local bar for hours before the ride. Now I don't know who he was, but I've been reading every news article that I've been able to find on the internet for the past few days (which is how I found this forum). A common theme in the reporting is that alcohol was not a factor.
Before you totally condemn this guy, the Harley riders, and the toy run in general, I think that you need to take this into consideration. We all know how easily stories and rumors start.
In such a large group a momentary loss of attention could easily be fatal.
It was a very unfortunate thing to have happen, but it is what it was, and that's an accident.
Let the investigators determine what happened to cause the accident. At this point all we know is that alcohol wasn't a factor.
There haven't been any media updates yet on the woman in serious condition but hopefully she will be okay.
I'm grateful to ride with a man who respects the power of his bike and chooses not to compromise his judgement with alcohol.